Danfoss acquires Eco Heat
Danfoss has taken a major stake in Britain’s fast growing heat pump market through the acquisition of Sheffield based Eco Heat Pumps.
Eco Heat Pumps is the sixth Danfoss acquisition in the heat pump sector in less than three years and the move marks the flowering of the UK heat pump industry, in which Eco has become a key player. Nis Storgaard, President of Danfoss Heating Division said: “The potential is enormous, but competition is also tough. We expect an annual market growth in Europe of around 30%. It‘s essential to establish ourselves in the key markets, while the market is still emerging, and this is the rationale behind the agreement with Eco Heat Pumps.”
Danfoss Heat Pumps (formerly known as Eco Heat Pumps) will be the centre for all Danfoss UK activity in this sector. The company will be based at the brand new 7000ft2 headquarters and stocking facility in Sheffield, with regional operations in Scotland and Southwest England.
All Eco’s existing staff have been retained, with Ben Hodges moving to Sheffield to head the sales team. Phil Moore, who continues as Managing Director expects staff levels to double within two years. Sally Moore takes on the role of Marketing Director.
The product range will also be unaffected, with Thermia heat pumps manufactured at the Danfoss owned plant in Sweden remaining the core of the company’s range.
Announcing the acquisition, Soren Thomsen, Danfoss Vice President Heat Pump Sales, stressed the strong synergy between the two companies: “Environmental and social responsibility is a Danfoss core value and heat pumps fit perfectly into our development plans along with underfloor heating and solar technology. Eco has rapidly established a quality reputation in the UK market and we’re confident that, as part of Danfoss, the new organisation can become a market leader.”